United States residential home prices have dropped during the 12 months to February 2011, according to the Case-Shiller Index. The Case-Shiller Index of property values in 20 cities fell 3.3% from February 2010.
The continuation of distressed properties (e.g., foreclosures) are weighing on the prices of homes in the US. “There is very little, if any, good news about housing,” David Blitzer, chairman of the Case-Shiller index committee at S&P, said in a statement. “The 20-city composite is within a hair’s breadth of a double-dip.”
The Miami component of the index saw prices fall 6.2% on a year-over-year basis in February 2011 and Tampa was down 6.0%. On a sequential basis the two segments fell 2.0% and 1.2%, respectively.
Some areas of interest are as follows:
February 2011 February/January January '11/ December '10
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 149.86 -1.5% -0.2% -1.0%
Chicago 113.26 -2.2% -1.8% -7.6%
Miami 138.44 -2.0% -1.3% -6.2%
Minneapolis 109.93 -3.1% -3.3% -8.3%
New York 165.19 -0.5% -1.0% -3.1%
Tampa 128.38 -1.2% -0.5% -6.0%
Composite-10 152.70 -1.1% -1.0% -2.6%
Composite-20 139.27 -1.1% -1.1% -3.3%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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